How much business tax (BT) should the property management company pay in June 2014?
A.RMB12,500
B.RMB7,500
C.RMB6,500
D.RMB1,500
第1题
Which of the following authorities promulgates the Tax Collection and Administrative Law?
A.The National People’s Congress
B.The State Council
C.The Ministry of Finance
D.The State Administration of Taxation
第2题
an is accrued and paid annually at the rate of 12% per annum. The relevant business tax rate is 5% and neither surcharges nor treaty relief apply.
What is the amount of enterprise income tax (EIT) the Chinese borrower needs to withhold from the annual interest paid to the overseas bank?
A.USD6,000
B.USD15,000
C.USD5,700
D.USD14,250
第3题
You should assume that today’s date is 1 March 2014.
George, a software developer, was born on 11 June 1986. He has accepted a one-year contract to update software for Xpee plc.
(1) The contract will run from 6 April 2014 to 5 April 2015, with a fee of £40,000 payable for the entire year of the contract. A condition of the contract is that George will have to do the work personally and not be permitted to sub-contract the work to anyone else.
(2) George will work from home, but will have to attend weekly meetings at Xpee plc’s offices to receive instructions regarding the work to be performed during the following week.
(3) George will not incur any significant expenses in respect of the contract apart from the purchase of a new laptop computer for £3,600 on 6 April 2014. This laptop will be used 100% for business purposes.
(4) During the term of the contract, George will not be permitted to work for any other clients. He will therefore not have any other income during the tax year 2014–15.
(5) George’s tax liability for the tax year 2013–14 was collected through PAYE, so he will not be required to make any payments on account in respect of the tax year 2014–15.
George has several friends who are also software developers. He understands that his employment status is not clear cut but that his income tax liability for the tax year 2014–15 will be the same regardless of whether he is treated as employed or as self-employed. However, George appreciates that there are advantages to being classed as self-employed.
Required:
(a) List FOUR factors which are indicators of George being treated as an employee in relation to his contract with Xpee plc rather than as self-employed. Note: You should confine your answer to the information given in the question. (2 marks)
(b) Calculate George’s income tax liability and national insurance contributions for the tax year 2014–15 if he is treated as self-employed in respect of his contract with Xpee plc. (4 marks)
(c) If George is treated as being an employee of Xpee plc instead of self-employed:
(i) Explain why his income tax liability will be payable earlier. (2 marks)
(ii) Calculate the additional amount of national insurance contributions which he personally will suffer for the tax year 2014–15. (2 marks)
第4题
tax (LAT)?
A.Company P contributed the land use right for the construction of a new factory as capital to its new subsidiary
B.Company D contributed the land use right for the construction of a shopping mall as capital to its new subsidiary
C.Company X which owned an office tower was merged by absorption with Company Y. Company X was dissolved after the merger
D.The local government transferred the land use right for the construction of a hotel to Company K
第5题
consultancy services to a client in Shanghai. According to the service contract, ABC Ltd will receive a fee, net of value added tax (VAT), of RMB500,000. The Shanghai tax authority considers that ABC Ltd has a China permanent establishment and so has assessed ABC Ltd to enterprise income tax (EIT) on the service fee based on a deemed profit rate of 20%. Consultancy service fees are subject to VAT at the rate of 6%.
How much enterprise income tax (EIT) will ABC Ltd have to pay on the service fee?
A.RMB100,000
B.RMB25,000
C.RMB23,585
D.RMB10,000
第6题
he equity in Co A at a profit to a UK company, Co Y.
Which of the following statements are correct?
(1) Co X is the taxpayer for China enterprise income tax (EIT)
(2) Co Y is the withholding agent for China EIT
(3) Co A is the withholding agent for China EIT
(4) The EIT should be filed at the place where Co
A.is located A 1 and 2
B.1, 3 and 4
C.1 and 4 only
D.3 and 4 only
第7题
£1,800 were paid in respect of the purchase.
Simon then renovated the house at a cost of £50,600, with the renovation being completed on 10 August 2008. He immediately put the house up for sale, and it was sold on 31 August 2008 for £260,000. Legal fees of £2,600 were paid in respect of the sale.
Simon fi nanced the transaction by a bank loan of £150,000 that was taken out on 1 May 2008 at an annual interest rate of 6%. The bank loan was repaid on 31 August 2008.
Simon had no other income or capital gains for the tax year 2008–09 except as indicated above.
Simon has been advised that whether or not he is treated as carrying on a trade will be determined according to the six following ‘badges of trade’:
(1) Subject matter of the transaction.
(2) Length of ownership.
(3) Frequency of similar transactions.
(4) Work done on the property.
(5) Circumstances responsible for the realisation.
(6) Motive.
Required:
(a) Briefl y explain the meaning of each of the six ‘badges of trade’ listed in the question.
Note: You are not expected to quote from decided cases. (3 marks)
(b) Calculate Simon House’s income tax liability and his Class 2 and Class 4 national insurance contributions for the tax year 2008–09, if he is treated as carrying on a trade in respect of the disposal of the freehold house.(8 marks)
(c) Calculate Simon House’s capital gains tax liability for the tax year 2008–09, if he is not treated as carrying on a trade in respect of the disposal of the freehold house. (4 marks)
第8题
eased employment and self-employment. The following information is available in respect of the tax year 2014–15:
Employment
(1) Patience was employed by a private school as a teacher. From 6 April to 31 December 2014, she was paid a salary of £3,750 per month.
(2) During the period 6 April to 31 December 2014, Patience contributed 6% of her monthly gross salary of £3,750 into her employer’s HM Revenue and Customs’ (HMRC’s) registered occupational pension scheme. Patience’s employer contributed a further 10% on her behalf.
(3) During the period 6 April to 30 June 2014, Patience’s granddaughter was provided with a free place at the private school run by Patience’s employer. The normal fee payable would have been £4,600. The additional marginal expense of providing the place for the grandchild was £540.
(4) On 25 June 2014, Patience was given a clock valued at £600 as an award for her 25 years of teaching at her employer’s school. She has not previously received any similar awards.
(5) Patience’s employer provided her with an interest-free loan so that she could purchase a season ticket for the train to work. The balance of the loan outstanding at 6 April 2014 was £8,000, and Patience repaid the loan in full on 31 December 2014.
Self-employment
(1) Patience was self-employed as a private tutor. Her trading profit for the year ended 31 July 2014 was £14,800. This figure is after taking account of capital allowances.
(2) Patience’s trading profit for the final five-month period of trading from 1 August to 31 December 2014 was £6,900. This figure is before taking account of capital allowances.
(3) The tax written down value of the capital allowances main pool at 1 August 2014 was £2,200. On 10 August 2014, Patience purchased a laptop computer for £1,700.
On the cessation of trading, Patience personally retained the laptop computer. Its value on 31 December 2014 was £1,200. The remainder of the items included in the main pool were sold for £800 on 31 December 2014.
(4) Patience has unused overlap profits brought forward of £3,700.
Personal pension contributions
During the period 6 April to 31 December 2014, Patience contributed a total of £3,600 (net) into a personal pension scheme.
Pension income
During the period 1 January to 5 April 2015, Patience received the state pension of £1,450, a pension of £6,000 from her employer’s occupational pension scheme, and a private pension of £3,300. These were the total gross amounts received.
Property
Patience owned two properties which were let out unfurnished until both properties were sold on 31 December 2014. The following information is available in respect of the two properties:
Patience has never occupied either of the two properties as her main residence.
Required:
Calculate Patience’s income tax and capital gains tax liabilities for the tax year 2014–15.
Notes:
1. You should indicate by the use of zero (0) any items which are not taxable or deductible.
2. The following mark allocation is provided as guidance for this question:
第9题
Which of the following are deemed sales for value added tax (VAT) purposes?
(1) The sale of a package of shampoo together with a sample of hair conditioner
(2) A sample of hair conditioner given to the walk-in customers to a department store
(3) Finished goods delivered to a warehouse in another city for storage
(4) Fixed assets contributed as a capital injection to a subsidiary
(5) Accountancy services provided free-of-charge to a non-government organisation for charity purposes
A.All of the above
B.1 and 3 only
C.2, 3 and 4 only
D.2 and 4 only
第10题
for RMB200,000. Cig Ltd’s inventory of tobacco was RMB10,000 on 1 January 2014 and RMB13,000 on 31 January 2014. Cig Ltd pays consumption tax (CT) on all the tobacco it purchases. The CT rate for both tobacco and cigarettes is 30%.
What is the amount of consumption tax (CT) payable by Cig Ltd in January 2014?
A.RMB42,000
B.RMB42,900
C.RMB60,000
D.RMB77,100
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